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SVN | SFR Capital Management Signs MOU with SmartRent to Integrate Advanced Home Monitoring and Management Technology into 35,000 Build-for-Rent Homes
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Partnership offers tenant benefits of highly desired smart home safety and home energy management
NEW YORK & PHOENIX--(BUSINESS WIRE)--
Today, SVN | SFR Capital Management(“SVN | SFR”), a private commercial real estate investment firm dedicated to the single-family Build-for-Rent (BFR) housing sector, announced its partnership with property technology solutions provider, SmartRent. SmartRent’s smart home solutions aim to help SVN | SFR reduce costs and increase operational efficiencies within its dedicated rental communities while enhancing resident quality of life, safety and retention.
“Smart home tech has become a critical piece in today’s dedicated rental communities and the majority of renters are willing to pay an increased price for homes with integrated smart technology,” said Jeff Cline, CEO of SVN | SFR Capital Management. “With SmartRent’s daily operational process solutions, both SVN | SFR and single-family rental tenants will benefit through tenant technology automation and asset protection.”
As the BFR housing market alternative remains hot within commercial real estate’s (CRE’s) investment asset segments, SVN | SFR plans to acquire and aggregate approximately 35,000+ new construction BFR homes over the next 5-7 years, depending on economic conditions and tenant demand, through an initial capital raise of $12 billion in equity and debt capital, for eventual disposition at stabilization as a large-scale institutional rental home portfolio.
“Today’s operators and renters are looking for the modernization, optimization and convenience that technologies bring, and we’re pleased to partner with SVN | SFR to usher in the smart solutions era for their properties,” said Lucas Haldeman, CEO of SmartRent. “Implementing SmartRent’s hardware, software and monitoring tools will further empower SVN | SFR’s teams to focus on enhancing resident experience and satisfaction, all while boosting operational and financial efficiencies across communities.”
SmartRent’s suite of products and services promote an integrated, convenient and modern living experience to residents. Supported smart hardware includes, but is not limited to, keyless locks, Ring doorbells, switches, dimmers, plugs, lightbulbs, thermostats, voice assistants, along with leak, motion and door sensors. Prospective residents/tenants can also enjoy the ease of self-guided tours and can select to add monitoring services to their residences via Ring devices for added security.
About SmartRent
Founded in 2017, SmartRent, Inc. (NYSE: SMRT) is a recognized enterprise property technology leader designed by and for real estate operators. The company’s comprehensive product suite, comprised of smart home building hardware and cloud-based SaaS solutions, provides seamless visibility and control over real estate assets. Its subsidiary, SightPlan, specializes in workflow management solutions that automate the property lifecycle. SmartRent and SightPlan’s robust, end-to-end enterprise platform increases efficiencies, delivers cost savings and additional revenue opportunities, and elevates user experiences. For more information, please visit smartrent.com.
About SVN | SFR Capital Management
SVN | SFR Capital Management, (“SVN | SFR”), based in New York, is a private, commercial real estate investment firm dedicated to investment in the Build-for-Rent (“BFR”) asset class across the U.S. SVN International Corp. (“SVNIC”), a globally recognized, Boston-based, full-service CRE advisory firm, is an affiliated entity. Through structured homebuilder joint ventures, SVN | SFR plans to acquire and aggregate approximately 35,000+ new construction, BFR homes in the near-term, through an initial capital raise of several billion in equity and debt capital, for eventual disposition at stabilization as a large-scale institutional rental home portfolio. For more information call 602.466.1381 or email SFRCapitalManagement@svn.com.
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